Stifel Nicolaus Cuts First Watch Restaurant Group (NASDAQ:FWRG) Price Target to $18.00

First Watch Restaurant Group (NASDAQ:FWRG) had its price target cut by stock analysts at Stifel Nicolaus from $22.00 to $18.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 6.19% from the company’s previous close.

Several other equities research analysts have also recently issued reports on FWRG. Citigroup lifted their target price on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Barclays reduced their target price on First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Finally, TD Cowen dropped their price target on First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

First Watch Restaurant Group Trading Down 3.5 %

Shares of First Watch Restaurant Group stock opened at $16.95 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.55 and a current ratio of 0.60. The company has a fifty day moving average of $20.09 and a 200 day moving average of $21.57. The company has a market capitalization of $1.02 billion, a P/E ratio of 44.61, a P/E/G ratio of 2.25 and a beta of 0.88. First Watch Restaurant Group has a fifty-two week low of $16.19 and a fifty-two week high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The company had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $245.03 million. During the same period in the previous year, the firm earned $0.15 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that First Watch Restaurant Group will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at First Watch Restaurant Group

In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total transaction of $185,330.60. Following the sale, the director now owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On First Watch Restaurant Group

Several hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC acquired a new position in shares of First Watch Restaurant Group during the 1st quarter worth approximately $16,030,000. Invesco Ltd. acquired a new position in First Watch Restaurant Group in the third quarter worth about $8,940,000. Foxhaven Asset Management LP boosted its holdings in shares of First Watch Restaurant Group by 44.3% in the 4th quarter. Foxhaven Asset Management LP now owns 1,046,362 shares of the company’s stock valued at $21,032,000 after buying an additional 321,375 shares during the period. Deepwater Asset Management LLC grew its stake in First Watch Restaurant Group by 275.3% during the 1st quarter. Deepwater Asset Management LLC now owns 412,884 shares of the company’s stock worth $10,165,000 after buying an additional 302,878 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in First Watch Restaurant Group by 25.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,311,905 shares of the company’s stock valued at $22,683,000 after purchasing an additional 263,101 shares during the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.